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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001162327-04-000084.txt : 20041216
<SEC-HEADER>0001162327-04-000084.hdr.sgml : 20041216
<ACCEPTANCE-DATETIME>20041216130452
ACCESSION NUMBER:		0001162327-04-000084
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041213
ITEM INFORMATION:		Unregistered Sales of Equity Securities
FILED AS OF DATE:		20041216
DATE AS OF CHANGE:		20041216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VIRTRA SYSTEMS INC
		CENTRAL INDEX KEY:			0001085243
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		IRS NUMBER:				931207631
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28381
		FILM NUMBER:		041207405

	BUSINESS ADDRESS:	
		STREET 1:		440 NORTH CENTER
		CITY:			ARLINGTON
		STATE:			TX
		ZIP:			76011
		BUSINESS PHONE:		8172650440

	MAIL ADDRESS:	
		STREET 1:		440 NORTH CENTER
		CITY:			ARLINGTON
		STATE:			TX
		ZIP:			76011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GAMECOM INC
		DATE OF NAME CHANGE:	19991103
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8koncompletion2.htm
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<TITLE>Converted by EDGARwiz</TITLE>
<META NAME="author" CONTENT="Ham, Langston, &amp; Brezina">
<META NAME="date" CONTENT="12/16/2004">
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<P style="margin:0pt; font-family:Times New Roman" align=center>U.S. SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin:0pt; font-family:Times New Roman" align=center>Washington, D.C. &nbsp;20549</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>Form 8-K</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>CURRENT REPORT</P>
<P style="margin:0pt; font-family:Times New Roman" align=center>Pursuant to Section 13 or 15(d) of</P>
<P style="margin:0pt; font-family:Times New Roman" align=center>The Securities Exchange Act of 1934</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>Date of Earliest Event Reported: &nbsp;December 13, 2004</P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:14pt" align=center><BR></P>
<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>VIR TRA SYSTEMS, INC.</B></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=342.667><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>Texas</P>
</TD><TD valign=top width=315.133><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>93-1207631</P>
</TD></TR>
<TR><TD valign=top width=342.667><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>(State or other jurisdiction of incorporation or organization)</P>
</TD><TD valign=top width=315.133><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>(IRS Employer Identification No.)</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:8.5pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD valign=top width=334.733><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>440 North Center, Arlington, TX</P>
</TD><TD valign=top width=303.667><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>76011</P>
</TD></TR>
<TR><TD valign=top width=334.733><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>(Address of principal executive offices)</P>
</TD><TD valign=top width=303.667><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>(Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>(817) 261-4269</P>
<P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>(Registrant's telephone number, including area code)</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
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<P style="page-break-before:always; margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:TimesNewRoman,Bold"><B>Item 3.02 Unregistered Sales of Equity Securities.</B></P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin-top:0pt; margin-bottom:10pt; font-family:Times New Roman">On December 13, 2004, we accepted promissory notes and financing equipment leases tendered under the terms of an exchange offer, obligating us to issue 5,278,057 shares of our common stock, par value $.005 per share in exchange for cancellation of $799,031 in principal amount of our outstanding promissory notes, and $3,852,000 in principal amount of our financing equipment leases issued in 1997 through 2001. We had not made any payments on the leases since October of 2001, and had never made any payments on the promissory notes.</P>
<P style="margin-top:0pt; margin-bottom:10pt; font-family:Times New Roman">Each holder was allowed to choose from one of three options for the exchange. Under Option A, the holder received shares having a current market value of 23.4 percent of the principal amount he or she was owed, and was not required to &quot;lock up&#148; any of the shares he or she receives in the exchange. Under Option B, each holder received shares having a current market value of 35.1 percent of the principal amount he or she was owed, but he or she agreed not to sell any of those shares for a period of six months, after which they become salable in six equal monthly installments. Under Option C, each holder received shares having a current market value of 46.8 percent of the principal amount he or she was owed, but he or she agreed not to sell any of those shares for a period of one year, after which they become salable in six equal monthly installments. In each case, the holder was required to forego all accrued interest. Of the 
total shares issued, 316,080 shares were issued to holders electing Option A, 306,900 shares to holders electing Option B and 4,655,077 shares to holders electing Option C.</P>
<P style="margin:0pt; font-family:Times New Roman">The issuance of these shares was exempt from registration under Section 3(a)(9) of the Securities Act of 1933 because the common stock was exchanged with our existing security holders exclusively and no commission or other remuneration was paid or given directly or indirectly for soliciting the exchange.</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; padding-left:90pt; text-indent:-27pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;<B>SIGNATURES</B></P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; text-indent:36pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=373.2>&nbsp;</TD><TD valign=top width=210><P style="margin:0pt; font-family:Times New Roman">VIRTRA SYSTEMS, INC.</P>
</TD></TR>
<TR><TD valign=top width=373.2><P style="margin:0pt; font-family:Times New Roman">Date: &nbsp;&nbsp;December 16, 2004</P>
</TD><TD valign=top width=210>&nbsp;</TD></TR>
<TR><TD valign=top width=373.2>&nbsp;</TD><TD valign=top width=210><P style="margin:0pt; font-family:Times New Roman">By: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ L. Kelly Jones</U></P>
</TD></TR>
<TR><TD valign=top width=373.2>&nbsp;</TD><TD valign=top width=210><P style="margin:0pt; font-family:Times New Roman">L. Kelly Jones</P>
</TD></TR>
<TR><TD valign=top width=373.2>&nbsp;</TD><TD valign=top width=210><P style="margin:0pt; font-family:Times New Roman">Chief Executive Officer</P>
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